Wayfair (NYSE:W) Hits New 52-Week Low on Insider Selling

Shares of Wayfair Inc. (NYSE:W - Get Free Report) reached a new 52-week low during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $22.99 and last traded at $22.74, with a volume of 184060 shares traded. The stock had previously closed at $25.09.

Specifically, CTO Fiona Tan sold 23,835 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the transaction, the chief technology officer now owns 111,128 shares of the company's stock, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon Blotner sold 19,257 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total value of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares in the company, valued at approximately $2,480,797.44. This trade represents a 19.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the sale, the chief financial officer now owns 144,474 shares of the company's stock, valued at approximately $4,575,491.58. This represents a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on W. Raymond James set a $60.00 price target on shares of Wayfair and gave the company a "strong-buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Canaccord Genuity Group lowered their price target on Wayfair from $76.00 to $68.00 and set a "buy" rating for the company in a report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Wayfair in a research note on Friday, February 21st. Finally, Jefferies Financial Group upgraded Wayfair from a "hold" rating to a "buy" rating and raised their target price for the company from $45.00 to $47.00 in a report on Friday, March 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $54.84.

Wayfair Stock Up 4.4 %

The stock has a market capitalization of $3.45 billion, a P/E ratio of -6.76 and a beta of 3.72. The company has a 50 day moving average of $39.50 and a 200-day moving average of $44.63.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Equities analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Trading of Wayfair

Several large investors have recently added to or reduced their stakes in W. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp grew its position in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after buying an additional 244 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC raised its position in shares of Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after buying an additional 281 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Wayfair in the 4th quarter worth approximately $41,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.